Report: Wall Street financiers think Biden ‘has no chance’ at winning Dems’ nomination

For much of the last year, former Vice President Joe Biden has been seen by many as the candidate most likely to win the Democrats’ presidential nomination this summer. But after his poor showing in Iowa and New Hampshire, some high-dollar Dems are saying it’s time for Biden to throw in the towel and drop out of the primary race.

“I feel sorry for Biden,” billionaire hedge fund investor Leon Cooperman told Fox Business. “He should withdraw; he has no chance.”

Biden behind the scenes

Cooperman wasn’t the only one to suggest to Fox Business that Biden may be on his way out. “[B]ehind the scenes, the word from the party’s fat-cat set is that the Biden campaign may already be lost despite the Wall Street C-suite names attending [his fundraising] events,” the network reported.

But these financiers aren’t turning to the party’s rising star, either. According to Cooperman, America isn’t “ready” for self-described democratic-socialist Bernie Sanders.

“Sanders is a communist and we are not ready for a communist or socialist as president,” the Wall Street figure complained.

As far as Cooperman is concerned, that leaves multi-billionaire and former New York Mayor Mike Bloomberg as the only viable alternative to President Donald Trump. “Bloomberg will assume the mantle of running the economy and not being Trump,” Cooperman said.

Others who spoke with Fox Business reportedly echoed those claims — and to no surprise. “Many of them are his friends,” the network reported of Bloomberg.

Trump can take a “victory lap”

Despite his apparent support for Bloomberg, Cooperman, who Fox Business reports has long supported Democrats, conceded that Donald Trump’s time in office has led to some significant achievements.

“Trump has every reason to take a victory lap,” he acknowledged, admitting that “unemployment for everyone and minorities are at a record low, there is constructive dialogue with China, and the stock market is booming.”

Still, Cooperman believes that “Trump should not seek a second term unless he will change the way he treats people and talks to people,” adding: “This wouldn’t even be a conversation if Trump conducted himself in a normal manner.”

Polls show Bloomberg gaining support within the African American community, although audio recently emerged of the former New York mayor saying that the way to reduce gun crime to have police “throw” minorities “up against the wall and frisk them,” according to the Washington Examiner. He also said:

Ninety-five percent of your murders, murderers and murder victims, fit one M.O. You can just take the description, Xerox it, and pass it out to all the cops.

Despite these challenges, Cooperman remains convinced that Bloomberg represents the best hope of unseating Trump come November. “The Democratic Party does not want Sanders or [Elizabeth] Warren to lead their ticket,” he concluded. “In the general election, the winner will depend on if people vote their pocketbooks or values.”

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